https://www.taxtmi.com/caselaws?id=400445 The Tribunal set aside the CIT(A)'s order and remanded the case to the Assessing Officer to reexamine the deduction eligibility under Section 80P(2)(a)(i) of the Income Tax Act. The Tribunal directed verification of other conditions for the deduction, ensuring the business is not akin to a co-operative bank and upholding the principle of mutuality. The classification of the assessee as a Souharda Sahakari should not disqualify it as a co-operative society. The appeal was allowed for statistical purposes. en-us Mon, 07 Sep 2020 00:00:00 +0530 Sat, 07 Nov 2020 09:44:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400445 The Tribunal set aside the CIT(A)'s order and remanded the case to the Assessing Officer to reexamine the deduction eligibility under Section 80P(2)(a)(i) of the Income Tax Act. The Tribunal directed verification of other conditions for the deduction, ensuring the business is not akin to a co-operative bank and upholding the principle of mutuality. The classification of the assessee as a Souharda Sahakari should not disqualify it as a co-operative society. The appeal was allowed for statistical purposes. Case-Laws Income Tax Mon, 07 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400445